Godrej Agrovet

April 30 (Reuters) - India's Godrej Agrovet GODE.NS posted a 48% jump in quarterly profit on Thursday, helped by strong growth in its animal feed and crop protection segments, as well as a one-time gain from the sale of land.

Here are some details:

• Total revenue rose 9.3% to 23.33 billion rupees during the quarter

• Revenue from animal nutrition, the company's largest segment accounting for over 50% of quarterly revenue, rose 10.8% to 12.70 billion rupees

• Crop protection revenue climbed 15.6%, recovering from weather disruptions in the prior quarter; palm oil and dairy businesses remained under pressure

• Total expenses for the Godrej Industries' GODI.NS unit rose 10%

• Consolidated profit stood at 1.05 billion rupees, up from 707.8 million rupees a year earlier

• Profit was also lifted by a one-time gain of 334.8 million rupees from the sale of land

(Reporting by Abhirami G and Pranav Kashyap in Bengaluru; Editing by Harikrishnan Nair and Mrigank Dhaniwala)

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March 18 (Reuters) - Godrej Agrovet Ltd GODE.NS:

• GODREJ AGROVET - ENTERS AGREEMENT TO SELL LEASEHOLD RIGHTS OF LAND IN GIDC SACHIN

• GODREJ AGROVET LTD - DEAL VALUED AT 350 MILLION RUPEES

Source text: ID:nNSE8BvHHz

Further company coverage: GODE.NS

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Feb 3 (Reuters) - Godrej Agrovet Ltd GODE.NS:

• GODREJ AGROVET LTD DEC-QUARTER CONSOL NET PROFIT 1.15 BILLION RUPEES

• GODREJ AGROVET LTD DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 27.18 BILLION RUPEES

Source text: [ID:]

Further company coverage: GODE.NS

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Corrects attribution in paragraph 7 to Nadir Godrej, not Rahul Saraf

By Divya Chowdhury and Praveen Paramasivam

DAVOS, Switzerland, Jan 23 (Reuters) - Indian real estate-to-dairy conglomerate Godrej Industries is eyeing acquisitions in the consumer goods and animal feed sectors despite the high valuations of young companies, the group chair has said.

Dealmaking in the Indian consumer goods and retail sector has picked up as large groups chase growth, reaching a four-year high for January-September, investment bank Equirus Capital said.

"We are constantly looking for acquisitions," Nadir Godrej told the Reuters Global Markets Forum on Thursday, on the sidelines of the World Economic Forum's annual meeting in Davos, Switzerland.

Godrej Consumer Products GOCP.NS last year bought men's grooming brand Muuchstac for about 4.5 billion rupees ($49 million).

Strong demographics, rising consumption and supportive policies continue to attract capital to the world's fourth-largest economy, Rahul Saraf, head of investment banking at Citi India, told the GMF in Davos.

But high valuations are sometimes a pain point.

"Part of the high valuation in India is because it has very high growth rates. You don't have those growth rates in Europe or in America," Nadir Godrej said.

The International Monetary Fund forecasts India's economy will expand more than 7% in fiscal 2026, far outpacing the global average, while its communications department director called the country "a key growth engine for the world".

Nadir Godrej also said the group's food and agri business, Godrej Agrovet GODE.NS, is looking for prospects in the animal feed category, but "never found a really good target" as most peers are regional.

In light of U.S. tariffs on imports from India, the group's consumer business is "working harder in other markets" even though its direct exports to the U.S. are minor, Godrej said.

The group, home to Godrej Properties GODR.NS, does not expect a slowdown in its real estate business, he said. Analysts polled by Reuters say a boom in the luxury housing sector will peter out within five years.
($1 = 91.6240 Indian rupees)

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(Reporting by Divya Chowdhury in Davos and Praveen Paramasivam in Chennai; Editing by Kevin Liffey)

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Sept 2 (Reuters) - Godrej Agrovet GODE.NS:

• SUNIL KATARIA ASSUMES ROLE AS CEO AND MD

Source text: ID:nBSE7YT3Kx

Further company coverage: GODE.NS

(Reporting by Rudra Singh)

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** Shares of Godrej Agrovet GODE.NS rise 2.6% to 832 rupees

** Co's Q1 consol profit rises 18.8% Y/Y to 1.61 bln rupees ($18.4 mln)

** Q1 consol total revenue jumps 11.2% Y/Y to 26.14 bln rupees

** Stock set to snap three-session losing streak

** GODE up ~12% YTD

($1 = 87.6780 Indian rupees)

(Reporting by Vijay Malkar)

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** India's Godrej Agrovet GODE.NS rises over 4% to 697.25 rupees

** Kotak Institutional Equities upgrades to "buy" from "add", saying steep post-Q4 earnings drop was unwarranted

** GODE tumbled 13.6% on Friday in biggest ever one-day drop

** Kotak says results were subdued but along expected lines and in a seasonally slow quarter

** Over 1.5 mln shares traded, ~6x the 6-month daily avg

** YTD, stock down 6.2%

(Reporting by Vivek Kumar M)

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Godrej Agrovet Ltd GODE.NS:

• GODREJ AGROVET LTD - RECEIVES ORDER FROM INCOME TAX DEPARTMENT

• GODREJ AGROVET LTD - ASSESSING OFFICER RAISES TAX DEMAND OF 240 MILLION RUPEES

Source text: ID:nBSEbgWr4H

Further company coverage: GODE.NS

** Food and agri conglomerate Godrej Agrovet GODE.NS gains 2.4% to 777.2 rupees

** Co unveils FY26 strategy for subsidiary that operates the dairy brand "Godrej Jersey"

** Targets 10 bln rupees ($116.3 mln) in value added portfolio in the states of Telangana and Andhra Pradesh

** Seeks to expand distribution to 20,000 outlets in Telangana

** Says will ramp up marketing to increase household penetration for products such as almond milk and cottage cheese

** GODE adds 54.8% in the last 12 months

($1 = 85.9750 Indian rupees)

(Reporting by Ananta Agarwal in Bengaluru)

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** Shares of Godrej Agrovet GODE.NS rise 1.8% to 749.60 rupees

** Co to acquire remaining 48.06% stake in Creamline Dairy Products for 9.3 bln rupees ($106.7 mln)

** Trading vols at 266,941 shares, over 1x the 30-day average

** Stock set to snap three session losing streak

** GODE up ~1% in 2025 vs 33.4% gains in 2024

($1 = 87.2010 Indian rupees)

(Reporting by Vijay Malkar)

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March 11 (Reuters) - Godrej Agrovet Ltd GODE.NS:

• ACQUISITION OF 48.06% STAKE IN CREAMLINE DAIRY PRODUCTS

• DEAL FOR 9.3 BILLION RUPEES

Further company coverage: GODE.NS

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Jan 31 (Reuters) - Godrej Agrovet Ltd GODE.NS:

• GODREJ AGROVET - TO RAISE FUNDS VIA ADDITIONAL BORROWINGS UPTO 10 BILLION RUPEES

Source text: ID:nBSE5BWRpz

Further company coverage: GODE.NS

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By Divya Chowdhury and Praveen Paramasivam

DAVOS, Switzerland, Jan 20 (Reuters) - India's economic slowdown is not expected to show up in the country's housing market, Godrej Industries Group Chairperson Nadir Godrej said in an interview on Monday.

Godrej, an Indian conglomerate which mainly targets the "middle category" of India's housing sector, is keeping a close watch on its debt given the cyclical nature of the business and is hopeful of riding out a potential down cycle, he added.

India forecast its slowest economic growth in four years for the year ending March, weeks after the country's central bank lowered its growth outlook for the next financial year.

Middle class Indians in the country's major cities are already cutting spending due to persistent inflation.

A slowdown is not evident in the housing sector, which struggles during downturns, and nor is one imminent, Godrej told the Reuters Global Markets Forum on the sidelines of the World Economic Forum's annual meeting in Davos, Switzerland.

A Reuters poll published last month forecast house prices in India will rise steadily over the coming years, driven mainly by demand from wealthy individuals. But rising inflation will make owning a property unattainable for most.

Godrej's group, which has annual revenue of more than $6 billion, includes Godrej Properties GODR.NS as well as animal feed and vegetable oil manufacturer Godrej Agrovet GODE.NS and Cinthol soapmaker Godrej Consumer Products GOCP.NS.

Godrej said India's rural economy is improving due to an increase in consumption in villages.

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(Reporting by Divya Chowdhury in Davos and Praveen Paramasivam in Chennai; Editing by Alexander Smith)

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Oct 29 (Reuters) - Godrej Agrovet Ltd GODE.NS:

• Q2 CONSOL NET PROFIT 1.12 BILLION RUPEES

• Q2 CONSOL TOTAL REVENUE FROM OPERATIONS 24.49 BILLION RUPEES

Source text: ID:nBSE52Q2mp

Further company coverage: GODE.NS

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By Rajendra Jadhav

MUMBAI, Sept 20 (Reuters) - India's palm oil production is likely to triple in six years as the area under oil palm plantations increases and as plantations become mature for harvesting, a senior industry official said on Friday.

The world's biggest edible oil importer relies on Indonesia, Malaysia and Thailand for palm oil supplies. An increase in production will help India slash edible oil imports that account for nearly two-thirds of its total consumption.

India's palm oil production is likely to jump to 1.2 to 1.5 million metric tons by 2030-31 from the current 400,000 tons, as farmers have been expanding the area, said Sougata Niyogi, chief executive officer of the oil palm plantation division at India's biggest palm oil producer, Godrej Agrovet Ltd GODE.NS.

Oil palm trees start yielding fruit 3-4 years after planting, with yields increasing significantly at around 6 years.

The oil palm area has been rising at a rapid pace since New Delhi started providing incentives to farmers from 2021 to curb vegetable oil imports, which cost it $15 billion in the last fiscal year.

The area under oil palm cultivation increased to 375,000 hectares (926,600 acres) by last year, and an additional 80,000 to 100,000 hectares is likely to be added this year, Niyogi told Reuters on the sidelines of the Globoil India conference.

"Government policies are helping farmers expand their planting areas. The new plantations should be ready for harvest by 2030-31, and that's when we'll see a big jump in production," he said.

India currently imports around 16 million tons of vegetable oils per annum, including 9 to 10 million tons of palm oil, mainly from Indonesia, Malaysia and Thailand.

Godrej Agrovet expects its palm oil production to double to 250,000 tons by 2030-31, Niyogi said.

Two years ago, there was a shortage of sprouts, which India imports to produce seedlings, but now enough sprouts are available to accelerate oil palm planting, he said.

(Reporting by Rajendra Jadhav; Editing by Muralikumar Anantharaman)

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Aug 7 (Reuters) - Godrej Agrovet Ltd GODE.NS:

• INTENDS TO ENTER INTO DEFINITIVE AGREEMENT WITH GODREJ PET CARE

Further company coverage: GODE.NS

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Aug 1 (Reuters) - Godrej Agrovet Ltd GODE.NS:

• GODREJ AGROVET Q1 CONSOL NET PROFIT 1.35 BILLION RUPEES

• GODREJ AGROVET Q1 CONSOL TOTAL REVENUE FROM OPERATIONS 23.51 BILLION RUPEES

• TO INVEST UPTO 1.10 BLN RUPEES IN NEW FEED PLANT IN MAHARASHTRA

Source text for Eikon: [ID:]

Further company coverage: GODE.NS

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** Shares of most Godrej group companies fall after conglomerate announces restructuring

** Godrej Properties GODR.NS and Godrej Industries GODI.NS drop 6% and 7.2%, respectively

** GODR top loser in Nifty Realty .NIFTYREAL and among top losers in mid-cap index .NIFMDCP100; GODI among top losers in Nifty 500 .NIFTY500

** Astec Lifesciences ASTE.NS sheds ~3%, while Godrej Consumer Products GOCP.NS and Godrej Agrovet GODE.NS up 0.5% and 3% respectively

** Godrej family has decided to restructure its shareholding in the conglomerate to operate as two entities - Godrej Enterprises Group and Godrej Industries Group

** "Restructuring rules out any potential option value that could have emerged from the Vikhroli land (in Mumbai) for Godrej Properties," says CLSA, reiterating a "sell" recommendation on rich valuations

** Godrej Industries Group operates via listed companies including Godrej Industries, Godrej Consumer Products, Godrej Properties, Godrej Agrovet and Astec Lifesciences

(Reporting by Bharath Rajeswaran and Hritam Mukherjee in Bengaluru)

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Corrects to "agrees" from "agree" in headline

BENGALURU, May 1 (Reuters) - India's Godrej family has decided to restructure its shareholding in the conglomerate to operate as two entities, Godrej Enterprises and Godrej Industries, according to a filing late on Tuesday.

The realignment will be implemented after the relevant regulatory approvals have been obtained, after which the two companies will continue to use the Godrej brand, it added.

Godrej Enterprises Group (GEG) will be headed by 75-year-old Jamshyd Godrej as chairperson and managing director and his niece Nyrika Holkar as executive director.

GEG operates across aerospace, aviation, defence and liquid engines among others.

Jamshyd Godrej was earlier serving as managing director and chairman of Godrej & Boyce, the privately held company, founded in 1897.

Nadir Godrej, 73, will serve as chairperson of Godrej Industries Group (GIG), which operates via listed companies including Godrej Industries GODI.NS, Godrej Consumer Products GOCP.NS, Godrej Properties GODR.NS, Godrej Agrovet GODE.NS and Astec Lifesciences ASTE.NS. GIG will be controlled by Nadir's brother Adi Godrej and their immediate family.

82-year-old Adi Godrej stepped down as chairman of Godrej Industries in August 2021, handing over the reign to his brother, Nadir Godrej.

Adi Godrej's son Pirojsha Godrej will be named chairperson of GIG, succeeding Nadir Godrej in August 2026.

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Eileen Soreng)

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** Shares of Godrej Agrovet Ltd GODE.NS fall as much as 5.3% to 506.15 rupees

** Animal feed maker says unit got assessment order from Commercial Taxes Department with penalty of 58.1 mln rupees ($696,387.18)

** Adds, co proposes to challenge the order before the higher courts/authorities

** Stock on track to lose for 4th straight day

** More than 134,000 shares traded as of 1:45 p.m. IST, busiest day yet since April 4

** Mean rating of 7 brokerages rating the stock is "Buy"; median PT is 570 rupees - LSEG data

** GODE last down 2.9%, adding to YTD losses of ~7%

($1 = 83.4306 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

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** Shares of agribusines firm Godrej Agrovet GODE.NS fall 3.3% to 547.8 rupees, log steepest drop since Oct.

** Fall in shares after co's Q3 profit shrank 21%, hurt by weak demand and inventory destocking; rev from ops rose marginally by 0.8%

** Co had reported 47% growth in Q2 profit on Nov 3, shares gained ~17% since then until last close

** Despite Friday's losses, shares up 2.4% this week after three straight weeks of losses

** Shares gained ~19% in 2023

** Analysts' avg rating is equivalent of "hold", their median PT is 480 rupees - at 15.3% discount on last close - LSEG data

(Reporting by Manvi Pant in Bengaluru)

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BENGALURU, Feb 1 (Reuters) - India's Godrej Agrovet GODE.NS reported a 21% fall in third-quarter profit on Thursday, hurt by soft demand and inventory destocking.

Consolidated net profit fell to 918.4 million rupees ($11.1 million) for the three months ended Dec. 31 from 1.16 billion rupees a year earlier, the company said in an exchange filing.

The company's overall inventory levels have fallen 15.5% due to the ongoing destocking across the sector, according to analysts. This in turn affected the bottom line of the company.

Total expenses for the quarter rose 0.23%, while total revenue was flat at 23.45 billion rupees.

The animal feed segment, which constitutes more than half of the total revenue, rose 1.5%.

Shares of the company rose 1.9% on Thursday ahead of results.

($1 = 82.9800 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru; Editing by Sohini Goswami)

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** Kotak Institutional Equities says exuberance around interest rate cuts, supply issues on chemical stocks could wane as sector still has growth issues in 2024

** Some stocks like Atul ATLP.NS, Aarti Industries ARTI.NS , Rallis India RALL.NS, SRF SRFL.NS, Tata Chemicals TTCH.NS, National Fertilizers NAFT.NS, Godrej Agrovet GODE.NS have rallied between 7%-17% in December

** Current data around chemical demand and pricing remains soft, demand still weak - brokerage

** 2024 outlook for crop commodities is quite mixed with low reservoir levels in India and lower agri commodity prices in U.S., Kotak says

** Import prices into India remain weak, as do export prices out of the U.S. - brokerage

(Reporting by Sethuraman NR in Bengaluru)

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** Shares of India's Godrej Agrovet GODE.NS up as much as 4.37% at 493 rupees, in sharpest intraday pct climb since Oct. 6

** The agribusiness firm posted a near 47% jump in consol Q2 net profit to 717.6 mln rupees ($8.63 mln) while total rev rose 5%

** Stock set to rise for the fourth consecutive session, if gains hold

** More than 103,961 shares changed hands by 9:30 a.m. IST, 0.6x 30-day

** Mean recommendation of 7 analysts tracking stock is "hold", median TP is 482.5 rupees - LSEG data

** Stock last up 3.5%, taking YTD gains to about 3.2%

($1 = 83.1675 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru)

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Nov 3 (Reuters) - Godrej Agrovet Ltd GODE.NS:

• INDIA'S GODREJ AGROVET SEPT-QUARTER CONSOL NET PROFIT 1.05 BILLION RUPEES VERSUS 717.6 MILLION RUPEES

• GODREJ AGROVET SEPT-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 25.71 BILLION RUPEES VERSUS 24.45 BILLION RUPEES

Source text for Eikon: ID:nBSEb4kQNc

Further company coverage: GODE.NS

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Sept 28 (Reuters) - Godrej Agrovet Ltd GODE.NS:

• ENTERING INTO A STRATEGIC PARTNERSHIP AGREEMENT WITH SIME DARBY PLANTATION BERHAD

• SDP TO SUPPLY HIGH-QUALITY OIL PALM SEEDS TO CO'S OIL PALM BUSINESS UNIT

• SDP TO LATER SET UP A SEED PRODUCTION UNIT IN INDIA

Further company coverage: GODE.NS

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** Shares of agribusiness co Godrej Agrovet GODE.NS rise as much as 6.59% to 520 rupees

** Co reported 27.3% Y/Y rise in June-qtr consolidated net profit on Tuesday, just before market close

** Share price above 50-day, 100-day and 200-day exponential moving averages, suggesting bullish trend

** More than 1.7 mln shares change hands by 12:36 p.m. IST, 7.4x 30-day avg

** Avg rating of 7 analysts equivalent of "hold", median PT is 462.50 rupees - Refinitiv data

** Stock up 5.1% this year

(Reporting by Ashish Chandra in Bengaluru)

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Aug 1 (Reuters) - Godrej Agrovet Ltd GODE.NS:

• JUNE-QUARTER CONSOL NET PROFIT 1.05 BILLION RUPEES VERSUS 827.1 MILLION RUPEES

• JUNE-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 25.10 BILLION RUPEES VERSUS 25.1 BILLION RUPEES

Source text for Eikon: ID:nNSEmQTQS

Further company coverage: GODE.NS

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July 18 (Reuters) - Godrej Agrovet Ltd GODE.NS:

• ALLOTTED POTENTIAL AREA OF 47,000 ACRE IN TELANGANA BY DEPARTMENT OF AGRICULTURE AND COOPERATION, GOVERNMENT OF TELANGANA

• ALLOTTED AREA WILL BE UTILIZED BY CO TO EXPAND CULTIVATION OF OIL PALM AND TO SET UP OIL PALM PROCESSING UNITS

Source text for Eikon: ID:nNSEGlYTt

Further company coverage: GODE.NS

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** Shares of Godrej Agrovet Ltd GODE.NS down 3.7% at 422.60 rupees, set for biggest one-day drop since May 2022

** Agribusiness co reports a 74.6% slump in Q4 profit due to higher costs and weak performance in its vegetable oil and crop protection business

** Shares hit their lowest since April 3; on track for a third consecutive session of loss, if trends hold

** Stock falls below its 50-day moving average; continues to stay below 100- and 200-day moving averages

** Trading vol by 9:33 a.m. IST already 2.5x the 30-day avg

** The avg rating of the 8 analysts covering the stock is "buy" and median PT is 570 rupees - Refinitiv data

** Stock is down ~10% YTD, after falling 9.3% in 2022 and 3.2% in 2021

(Reporting by Dimpal Gulwani in Bengaluru)

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